A widely followed crypto analyst believes that one red-hot Solana (SOL) rival may soon print new all-time highs (ATHs).
Crypto trader Michaël van de Poppe tells his 729,500 followers on the social media platform X that Sui (SUI) could soar more than 23% from its current value.
[adinserter block="1"]“Sometimes you’ll need to remain patient. Shared this on SUI before, and marked that level [at $1.79]. Got there and has a strong bounce of close to 10%. I think we’ll continue towards the highs on SUI and potentially reach $2.25-$2.50.”
SUI is trading for $2.03 at time of writing, a gain of 134% since September 11th when it was trading at $0.867. SUI’s all-time high price of $2.17 was reached in March.
Next up, the analyst says that Bitcoin (BTC) may be heading much higher after recovering from Thursday’s dip to the $58,000 level.
“Bitcoin took the liquidity and bounced upwards. It’s trading above $60,000 and it’s very likely that the correction is over. Once it breaks through $62,300, things can go fast. Buy the dip.”
The analyst also predicts changes will occur in the macroeconomic conditions, including additional Fed rate cuts, that will cause investors to take on riskier investments like Bitcoin.
“There’s a massive monthly bearish divergence taking place on the 2-year and 10-year Yields in the U.S. I’m expecting this to continue falling from here, with labor markets weakening. Most likely QE (quantitative easing) plus more rate cuts from November onwards [leading to] risk-on with BTC carrying the markets.”
Bitcoin is trading for $62,286 at time of writing, up more than 2% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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